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759 Manhattan Ave #761, Bro...

Adam Justin Acquires Multifamily Property In Greenpoint, Brooklyn For $9.4M
SOLDMultiFamily

Adam Justin Acquires Multifamily Property In Greenpoint, Brooklyn For $9.4M

759 Manhattan Ave #761, Brooklyn, NY 11222, USA

Building Size

212,500 SF

Asset Type

MultiFamily

Closing

Feb 15, 2018

AI

The multifamily property located at 759-761 Manhattan Avenue in Greenpoint, Brooklyn has been sold in a closed transaction. The property consists of 18 units and spans across 21,250 square feet. The transaction price for this property was $9,400,000, resulting in a price per square foot of $442.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $9,400,000
  • Address: 759-761 Manhattan Avenue, New York
  • Market: Greenpoint, Brooklyn
  • Square Footage: 21,250 sf
  • Price per Square Foot: $442
  • Number of Units: 18

The seller of the property was RedSky Capital, represented by Ben Bernstein. The buyer, Adam Justin, successfully acquired the property. The transaction was facilitated by Lexi Kaplan, who acted as the broker.

Players

Lexi Kaplan

Broker

$29.1M

vol

3 deals

Broker
Adam Justin

Adam Justin

Justin Management

Buyer

$4M

vol

5 deals

Buyer
Ben Bernstein

Ben Bernstein

RedSky Capital

Seller

$129.7M

vol

6 deals

Seller

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93